Morning Call

March 5, 2024

As previously announced, FIBRAPL launched its follow-on for up to 138 million CBFIs (considering the overallotment and additional issuance options), seeking to raise US$434 million that would be used for a US$615 million acquisition pipeline. The offer will close today and settle on March 8.

 

  • Mexico’s President stated that the federal government is looking to acquire ALEATIC’s 49% stake in the Toluca airport.

 

  • AMX plans a foreign debt issuance of P$20 billion at a five-year maturity as part of a P$130 billion program. The offering will open on March 21 and settle on March 27, while the proceeds will be used for refinancing debt in foreign currency.

 

  • Saint Gobain’s trade union negotiated a 7.1% direct wage increase for the workers at the Cuautla plant.

 

  • Telecom regulator IFT granted IP Matrix a concession to exploit a 50 MHz frequency package under the 3.5 GHz band for a year to develop a 5G private network for Internet of Things applications.

 

  • The Ministry of Public Administration (SFP) stated that the National Fund for Tourism Promotion (Fonatur) has until September 12 to transfer the Mayan Train project to the Ministry of Defense (Sedena).

 

  • At its annual ordinary shareholders’ meeting, NEMAK approved a P$500 million share buyback program for 2024 (~4.8% of its current market cap).

 

  • DANHOS has proposed that David Daniel Kabbaz Cherem replace Carlos Daniel Kabbaz Chiver as a proprietary member of the Technical Committee and that former Finance Minister Pedro Aspe Armella join as an independent member.